Financial regulators in the UK are failing to stop corrupt practices in deals between a leading Wall Street hedge fund and top officials in Zimbabwe and the Democratic Republic of Congo (DRC), claims a report by an international organisation that fights corporate misconduct.
In September 2016, the US Department of Justice (DoJ) charged one of the world’s largest hedge funds, Och-Ziff Capital Management Group (Och-Ziff), which has $40bn in assets under management “with conspiracy to violate the anti-bribery provisions of the (US) Foreign Corrupt Practices Act (FCPA)”, regarding transactions in the DRC and Zimbabwe.
